DLA Piper advised City Office REIT, Inc., a real-estate investment trust, in its agreement to be taken private by MCME Carell Holdings, an affiliate of hedge fund Elliott Investment, for approximately US$1.1 billion, including the assumption of debt.
Vancouver-based City Office owns and operates office properties mainly in Sun Belt markets, with buildings in Dallas, Denver, Orlando, and Phoenix, among others.
MCME Carell will acquire all the outstanding shares of common stock of City Office it does not already own for US$7.00 per share in cash and immediately prior to the consummation of the transaction. City Office will redeem each of the Company’s preferred stock for US$25.00 per share in cash, plus any accrued but unpaid distributions.
The DLA Piper team was led by Partners Chris Giordano and Jon Venick (both New York) and Associate Nick Young (Phoenix).
With more than 1,000 corporate lawyers globally, DLA Piper helps clients execute complex transactions seamlessly while supporting clients across all stages of development. The firm has been rated number one in global M&A volume for 15 consecutive years, according to Mergermarket, and ranked as number one in VC, PE and M&A in combined global deal volume according to PitchBook.